FBAA Anti-Money Laundering and Counter-Terrorism Financing
Requirement for new FBAA membership
Welcome to the Finance Brokers Association of Australia’s Anti-Money Laundering and Counter-Terrorism Financing-learning course including AML3.
This training program is designed to provide you with an overview of anti-money laundering and countering of the financing of terrorism. The “Anti-Money Laundering” sections describe the legal obligations of financial institutions and other regulated entities to prevent or report money laundering activities. The Counter-Terrorism Financing sections describe the legal obligations of financial institutions, other regulated entities and residents of Australia to prevent, report and interdict the financing of terrorists, terrorist organisations and terrorism events.
FBAA 101 – Introduction to Anti Money Laundering and Counter Terrorism Financing
Learning Outcomes
- Define money laundering
- Define the three stages of money laundering
- Identify the principle sources of money laundering
- Discuss why criminals launder money
- Describe the effect of money laundering on our society, including the impact of the financing of terrorism
- Identify and act upon typical high risk customers
- Identify and act upon suspect transactions
- Assist in the prevention of money laundering and terrorist financing.
FBAA 102 – Anti-Money Laundering and Counter-Terrorism Financing for Finance Brokers
Learning Outcomes
- Identify the relevant laws and rules relating to Anti-Money Laundering and Counter-Terrorism Financing
- Explain, in general terms, the obligations that result from those laws and the procedures that businesses must put in place to comply with them
- Conduct an identification and verification procedure for a variety of customer types including individuals and trusts
- Be aware of the need to report suspicious matters
- Identify record-keeping requirements
- Describe, in general terms, the offences under relevant laws
Upon successful completion of the multiple choice assessments associated with each module your certificate of completion will be available within your AAMC Members Area, and your training records will be updated with your CPD Points.
Very Informative Course and so much to learn about AML and CTF.